Milk futures on the Chicago Mercantile Exchange were lower Monday ahead of a mostly neutral milk production report. Class III milk continued a lackluster performance as grains fell. August was unchanged at $17.62, September fell 7 cents to $17.78, and October fell 5 to $17.78. The Aug – December average is at $17.52/cwt. 2020 markets were also weaker, falling 5-9 cents for Jan- March and averaging $16.49/cwt.
Dry whey up $0.0050 at $0.37. Blocks up $0.0275 at $1.9075. Two trades were made at $1.9050 and $1.9075. Barrels down $0.0150 at $1.75. Eight trades were made ranging from $1.75 to $1.76. Butter down $0.01 at $2.33. Two trades were made at $2.33 and $2.3325. Nonfat dry milk unchanged at $1.03. One trade was made at that price.
Grain and feed markets fell again on Monday. December corn fell 6 ¼ to $3.74 ½, November soybeans fell 13 ¼ to $8.66 ½, and Soybean meal fell $2.90 to $292/ton.
